“On June 19, 2020, the Board of Directors of the Bank of Russia decided to reduce the key rate by 100 bp. p., up to 4.5% per annum, ”the report said.
As the regulator notes, there is a risk of a significant deviation of inflation down from the 4% target in 2021, and the decision was made to limit it.
In May, Central Bank Chairman Elvira Nabiullina said that the situation in the Russian economy is developing in general close to the baseline forecast.